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1/14/2013 4:50PM

Obama Warns Republicans on Debt Limit

The next phase in the bitter between the White House and congressional Republicans began in earnest Monday, with President Obama and GOP leaders digging in over spending and the debt limit. Jerry Seib has details on The News Hub. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... let's put ourselves position ... we're in or to pay for ... spending the we've Ardi incur ... there are two options are were either going to ... for fouling or the economy in her ... middle-class families and hurts the years ... and her kids ... were trying to go to college ... or alternatively were gone and ball the economy ... work I didn't do that ... I was present Obama ... made today warning Republicans to get a debt deal done ... well back and mall ... right and right now on the New Saab ... good afternoon and welcome I'm Simon Constable with the D tells what the president said and how things might shake out we have ... The will Street gentle stray shot Joinus now from Washington DC and Jerry ... calm I was just a man ALM ... write to all of of of the family of long press conference up ... what I was so how did you read the tone of the president's son and ... how we in any way in a different place than we were a few weeks ago ... well it was pretty confrontational a pretty lecturing and I thought that that I went down very well with Republicans ... on and it suggests we're not much different place than we were a few weeks ago when things were falling apart on the fiscal cliff ... however I think there's a reason the president came out the way he did today ... and it's because he was trying to tell both parties mostly Republicans but also some Democrats look folks ... you cannot fix an raising the debt ceiling because there is this all of the Republican party ... that some people have just was it look ... we're not default on the debt issues that if we get the debt ceiling ... the Treasury will have to pay some bills likes it that the bondholders and the senior citizens in the military does not pay other bills ... until more revenue comes in ... there will be a default what's the problem there's no crisis here ... and some Democrats are saying well we we can use some tricks to get around this but Sprint a trillion dollar coin deposit it at the Fed ... and other rates that don't raise enough money to pay fair deals ... for less than the fourteenth amendment that up residence your off price to raise the debt ceiling all by itself ... I think the president was the case today to say ... there are no easy ways around the debt ceiling problem let's just do the thing raise the darn thing ... and don't mess